Norman Levine DH Corporation DH-T HOLD Mar 23, 2017

This has been a disappointment. In terms of their new entry into FinTech, it has had some disappointing results. At the current price level, he feels it is reasonably valued. This is more of a “show me” story at this point.

He bought more when it fell because it was massively discounted. Also, management gave very poor guidance about what was happening to a lot of their businesses. Feels their core businesses really has good opportunities on the FinTech side, in the US specifically, and the stock can slowly go up. Pays a decent yield.

Being acquired by Vista Equity at $25.50 a share. They had some serious issues the last quarter where they missed badly. However, overall, it was a pretty good company. He would be inclined to take the offer and move on.

(Top Pick Feb 17/16, Down 17%) They are effectively being taken out. He liked what they were acquiring. The problem was their execution failed and they bought acquisitions through debt. It was a bit of a miss.

It was a short in the past. You are looking at a merger arbitrage trade. It is the time value now.

Being acquired at $25.30 a share. It doesn’t look like there is going to be anybody else coming in and paying a higher price. If you have another idea, then you could sell it right now and move on.

There was a big drop off that took place in late 2016, and then it partially recovered. He understands that they are in the middle of talks for a buyout, with the price being close to where it is right now. There is not a lot of potential.

(Top Pick Feb 17/16, Down 19.76%) It fell apart and was acquired. They fell apart integrating their US acquisitions. They are no longer a public corp.

(A Top Pick Feb 17/16. Down 20%.) This got privatized.